Based on the current debt arrangements, MMI will need to pay back $6.7 million in the next 12 months (on 1 September 2021). MMI had $15 million cash at the end of March 2021 and started shipping bauxite. So, there is no liquidity problem based on the info provided IMO.
The other payments are due in July 2022 (totalling $11.7 million), September 2022 ($11.7 million) and January 2023 ($5 million).
However, MMI needs to increase its cash reserves this year. The bauxite price is important for survival. China is the main purchaser from Australia and the ties between the two countries are not so good now.
Ann: March Quarterly Activities Report, page-121
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5.2¢ |
Change
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Mkt cap ! $309.6M | |||
| Open | High | Low | Value | Volume |
| 5.3¢ | 5.3¢ | 5.2¢ | $1.300M | 24.86M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 854720 | 5.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.3¢ | 1693409 | 5 |
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